In the light of Israel’s new economic policy, which has devalued the pound, the Jewish Agency today revised its 1962-63 budget, increasing it from the previous figure of 272,000,000 pounds to 370,000,000 pounds ($123,333,333).
The reason for the revision, it was explained, is because the Agency will now receive a new, higher exchange rate for its income from fund-raising campaigns abroad. The principal increase in expenditures will be for the transport of immigrants and the repayment of dollar-linked loans. It is understood that the Agency’s participation in immigrant housing has been increased.
The Archive of the Jewish Telegraphic Agency includes articles published from 1923 to 2008. Archive stories reflect the journalistic standards and practices of the time they were published.
